- GXO Logistics ( NYSE: GXO ) rose 8% amid a bullish investor pitch for the contract logistics provider.
- GXO was pitched by CNBC commentator Steve Weiss of Short Hill Capital Partners on the business network.
- "It's selling at less than 6x EBITDA on next year's multiple," Weiss said. "It's compellingly cheap and has been beaten up ..."
- The pitch comes after GXO on Tuesday reported Q3 results that beat EPS and revenue estimates and the company reiterated its full year outlook. Weiss highlighted that GXO reported 16% organic revenue growth for Q3.
- Recall last month GXO ( GXO ) said it planned to hire 22,000 workers globally for peak holiday, return season.
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GXO Logistics gains amid bullish investor pitch